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coinpedia 2025-01-29 14:33:00

Trump Media Launches Truth.Fi to Invest in Crypto and FinTech

The post Trump Media Launches Truth.Fi to Invest in Crypto and FinTech appeared first on Coinpedia Fintech News U.S. President Donald Trump’s media company took a significant step into the crypto space on Wednesday with the launch of Truth.Fi, a fintech brand that may invest in bitcoin and other cryptocurrencies, as well as crypto-related securities. Trump Media and Technology Group Corp, operator of the social media platform Truth Social and the video streaming platform Truth+, announced today that the company’s board of directors has approved a financial services and financial technology strategy, which will include the launch of the financial services and FinTech brand Truth.Fi. “To diversify the Company’s cash and cash-equivalent reserves of over $700 million as of December 31, 2024, the board has approved the investment of up to $250 million,” the press release noted. The investment capital will be invested in traditional investment vehicles, separately managed accounts (SMAs), exhange-traded funds (ETFs), “bitcoin and similar cryptocurrencies or crypto-related securities,” the company also said. Trump owns over 50% of Trump Media and Technology Group, which operates the social media platform Truth Social.

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